Bank of America Initiates Coverage on SiteOne Landscape Supply (NYSE:SITE)

Analysts at Bank of America initiated coverage on shares of SiteOne Landscape Supply (NYSE:SITE) in a report issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $147.00 price target on the industrial products company’s stock. Bank of America‘s price target points to a potential upside of 14.36% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus decreased their price target on shares of SiteOne Landscape Supply from $140.00 to $134.00 and set a “hold” rating for the company in a research report on Tuesday. Zacks Research upgraded SiteOne Landscape Supply from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Barclays set a $134.00 price target on SiteOne Landscape Supply and gave the company an “equal weight” rating in a research report on Monday, December 8th. William Blair restated a “market perform” rating on shares of SiteOne Landscape Supply in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their price target on shares of SiteOne Landscape Supply from $143.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $150.10.

SiteOne Landscape Supply Stock Up 0.7%

NYSE:SITE opened at $128.54 on Thursday. SiteOne Landscape Supply has a 52 week low of $101.25 and a 52 week high of $154.00. The company has a quick ratio of 1.14, a current ratio of 2.49 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $127.25 and its two-hundred day moving average is $130.01. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60.

SiteOne Landscape Supply (NYSE:SITE) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.26 billion. SiteOne Landscape Supply had a return on equity of 8.62% and a net margin of 2.98%.SiteOne Landscape Supply’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. Research analysts anticipate that SiteOne Landscape Supply will post 3.61 EPS for the current year.

Hedge Funds Weigh In On SiteOne Landscape Supply

Large investors have recently bought and sold shares of the company. Man Group plc boosted its holdings in shares of SiteOne Landscape Supply by 0.4% in the second quarter. Man Group plc now owns 22,338 shares of the industrial products company’s stock valued at $2,702,000 after acquiring an additional 86 shares in the last quarter. Keynote Financial Services LLC boosted its holdings in SiteOne Landscape Supply by 5.4% in the 2nd quarter. Keynote Financial Services LLC now owns 1,740 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP boosted its holdings in SiteOne Landscape Supply by 61.2% in the 2nd quarter. Allworth Financial LP now owns 237 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 90 shares in the last quarter. HM Payson & Co. increased its position in SiteOne Landscape Supply by 32.2% during the 3rd quarter. HM Payson & Co. now owns 398 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 97 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in shares of SiteOne Landscape Supply by 1.8% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 5,797 shares of the industrial products company’s stock worth $747,000 after buying an additional 105 shares in the last quarter.

About SiteOne Landscape Supply

SiteOne Landscape Supply is a leading distributor of landscape supplies and irrigation equipment in North America. The company serves a broad range of customers, including independent landscapers, lawn and garden retailers, municipalities and other commercial landscape professionals. Its product portfolio spans irrigation and lighting controls, pipes and fittings, fertilizers and soils, lighting fixtures, hardscapes, outdoor lighting systems and related installation accessories.

In addition to core product lines, SiteOne offers agronomic services designed to optimize turf and plant health, as well as online tools and training resources to help customers plan, specify and manage projects more efficiently.